Eric Trump announced that the Trump Organization is suing Capital One for debanking its accounts in 2021.
“Today, the Trump Organization filed a lawsuit in Miami-Dade County against @CapitalOne to hold the bank accountable for their egregious conduct in unjustifiably terminating over 300 of the company’s bank accounts without cause, in 2021,” Trump declared on X.
Trump stated that Capital One’s move to debank the account was a “clear attack on free speech and free enterprise that flies in the face of the bedrock principles and freedoms that define our country.”
“Moreover, the arbitrary closure of these accounts, without justifiable cause, reflects a broader effort to silence and undermine the success of the Trump Organization and those who dare to express their political views,” he wrote. “By filing this lawsuit, we seek to hold Capital One accountable for the millions of dollars in damages they caused, not just to our company, but to the many dozens of properties, hundreds of tenants and thousands of Trump Organization employees who relied on these accounts for their livelihoods.”
Trump asserted that businesses “should not be targeted or punished for their political affiliations,” going on to declare that Capital One’s action “represents a dangerous precedent that could threaten the operations of countless businesses across the nation, particularly those with a strong and independent voice.”
“This lawsuit, and those that follow, are necessary steps to protect the integrity of American business practices and to ensure that no company or individual is unfairly targeted for their beliefs, affiliations, or business activities,” he wrote. “We will not stand by while big banks misuse their power to stifle businesses and harm innocent Americans.”
President Donald Trump condemned financial institutions’ debanking practices during the World Economic Forum’s (WEF) January meeting.
“I hope you start opening your bank to conservatives because many conservatives complained that the banks are not allowing them to do business within the bank and that included a place called Bank of America,” Trump said to Bank of America CEO Brian Moynihan.
“They don’t take conservative business, and I don’t know if regulators mandated that because of Biden or what, but you and [J.P. Morgan Chase CEO] Jamie [Dimon] and everybody, I hope you will open your banks to conservatives, because what you are doing is wrong,” he said.
